The intangible foreign exchange market means that the market has no specific scope, and the currency conversion among individuals, institutions and banks can also form the foreign exchange market invisibly. Features are as follows:

1, there is no definite opening and closing time.

2. Foreign exchange buyers and sellers communicate with foreign exchange institutions through telex, telegram, telephone and other communication equipment.

There is a good trust relationship between the subjects, otherwise, this transaction is difficult to complete. Intangible foreign exchange market has become the dominant form of foreign exchange market today.

Tips: The above contents are for reference only.

Reply time: 2022-01-1. Please refer to the latest business changes announced by Ping An Bank in official website.